August 22, 2011 — Daily Elliott Wave Video Analysis

The daily Elliott Wave analysis video for August 22, 2011, is available here. The video will always remain accessible via the current link for a future relevance. You can use it to check the accuracy of our Elliott Wave forecasts or for your self-education in such analysis.

It is recommended to view the videos in a full screen mode.


AUD/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.0907 price level. So, as long as price stay below 1.0907 resistance level, look for sell trades. If bullish candlestick closes above 1.0907 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bearish in 1 hour chart. Intraday resistance is present at 111.23 price level. So, as long as price stay below 111.23 resistance level, look for sell trades. If bullish candlestick closes above 111.23 critical resistance level then down trend is going to end.

EUR/USD
Trend is sideways in 1 hour chart. Intraday resistance is present at 1.4534 price level and intraday support is present at 1.4102 price level. It is better to stay out untill price go above 1.4534 resistance level or breaks below 1.4102 support level.

GBP/USD
Trend is bullish in 1 hour chart. Intraday support is present at 1.6348 price level. So, as long as price stay above 1.6348 support level, look for buy trades. If bearish candlestick closes below 1.6348 critical support level then up trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.7509 price level. So, as long as price stay above 0.7509 support level, look for buy trades. If bearish candlestick closes below 0.7509 critical support level then up trend is going to end.

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